New Delhi: Oil and Natural Gas Corp's (ONGC) over Rs 8,000 crore development of western offshore B-193 cluster fields will be completed this year that will add 28,000 barrels per day to peak oil production.

Singapore-based Swiber Holdings has installed a 13,000 tonne platform at the B-193 field in the Arabian sea, off the west coast, using float-over method that saved time and money.

The B-193 cluster field development includes eight marginal fields - B-23A, B-28, B-28A, B-172, B-178, B-179, B-180 and B-193 - off the west coast.

The project costing over Rs 8,000 crore would add 44 million barrels of oil production and 6 billion cubic meter of gas over the life of the field, said ONGC Chairman and Managing Director Sudhir Vasudeva.

Speaking at a function organised to showcase the technological marvel pulled off by Swiber, he said the 13,000 tonne steel structure, which will process oil and gas produced from the marginal fields before pumping it to shore, was erected using floating barges.

Traditionally this job would have been done by floating cranes but such a massive structure could not have been done as a single piece and it would have to necessarily be done piece by piece.

Swiber installed the platform as well as a 8,000 tonne living quarter platform, which were fabricated at its yard in Malaysia, as a single unit in the middle of Arabian sea in India's first floatover operation.

"This would have saved USD 70 to 100 million in cost," he said.

The project was initially scheduled to be completed by August 2010 but was delayed. While the process platform has been installed, the commissioning will happen in next couple of months.

The delay in the project implementation has also resulted in cost overruns by Rs 2,384.66 crore.

Executive Chairman of Swiber, Raymond Goh Said: "The completion of works on the very significant B-193 Field Development Project is a major feat for us as it involves extensive engineering expertise.

"The successful execution and completion of B-193, which marks the first time that any company has used floatover methods for offshore field development in India, is a testament to Swiber's excellent engineering capabilities and asset strength."

Vasudeva said this is a noteworthy milestone for offshore exploration and development, as it is the first time that floatover installation methods have been used in India.